Cues from global peers were positive as Dow Jones, S&P 500, and the NASDAQ ended with gains.
(Image: REUTERS)Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic benchmark indices return to action on Thursday after a brief one-day pause. S&P BSE Sensex ended the previous trading session in red, falling 0.68% to settle at 52,198 while the NSE Nifty fell 0.76% and reached 15,632. Global markets sell-off forced domestic markets lower during the first half of the week but SGX Nifty today morning was hinting at a recovery, surging 119 points higher. Cues from global peers were positive as Dow Jones, S&P 500, and the NASDAQ ended with gains. Asian stock markets were also moving higher during the early hours of trade.
Increasing commodity prices forced the government’s crude oil import bill to swell by a massive 190.6% on-year basis in the first quarter to reach $24.7 billion. India’s crude oil import value during the quarter stood at 51 million tonne, up 14.7% from the previous year. The average price of the Indian basket of crude oil in the first quarter was $68.6 per barrel, against the average rate of $30.4 per barrel recorded in the same period last year. Increased crude oil prices have forced oil marketing companies to increase rates of petrol and diesel significantly during the last few months.
Highlights
SGX Nifty was up 150 points, extending its lead ahead of the opening bell on Thursday morning. Nifty futures were hinting at a positive start for domestic equities.
A short build-up in the Bank Nifty Futures, short build-up in the Nifty Futures, fall in the Nifty Open Interest Put-Call ratio on the back of Call writing at 15700-15750 levels and short build-up by the FIIs’ in the Index futures segment Indicates that one should be cautious for the markets.
~ HDFC Securities
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: The prices of Petrol and Diesel were left unchanged at record highs for the fifth day straight on Thursday by oil marketing companies as crude prices moved southwards. Petrol in the national capital today costs Rs 101.84 per litre, while Diesel in the capital city is retailing at Rs 89.87 per litre. Fuel prices have increased 41 times since May 4 and ten times this month already, sitting at all-time highs. The price of petrol in Delhi has increased by Rs 11.15, while diesel price has surged Rs 10.80 per litre since the rates started increasing more than 2 months back. Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices on a daily basis in line with benchmark international price and foreign exchange rates.
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BSE-listed companies such as Hindustan Unilever Ltd, Ultratech Cement, Bajaj Auto, Hindustan Zinc, ICICI Lombard Genenral Insurance Company, Biocon, Mphasis, Bajaj Holdings, Persistent Systems, IndiaMART InterMESH, Bank of Maharashtra, and IEX will announce their April-June quarter earnings on 22 July.
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"Technically Nifty formed a Bearish candle on daily scale and continued its lower highs - lower lows formation of the last two sessions. Key support now stands at around 15,500 zones while on the upside the index may face resistance around 15,800 levels. The Q1 result season has so far been in-line to better than expectations - leading to sector /stocks specific action - which is likely to continue in the near term as well. Also, it may provide investors with some insights into the scale of economic recovery through the management commentaries. Market has seen some sell off from its recent life highs on the back of weak global cues. While the declines are being bought into, follow up is missing at higher levels suggesting some fatigue creeping in. Hence it would be a tough fight between the Bulls and Bears in the coming days and one needs to remain watchful of possible movement in either direction," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.
SGX Nifty was up 119 points on Thursday morning. Domestic markets return to action after a brief one-day pause.
On weekly F&O expiry day, Nifty is likely to see a positive opening and trade in a range of 15,550-15,750. The 34,400 level will act as an important level in Bank Nifty on Thursday, and the overall trading range is expected to be between 34,000-35,000, said analysts. The Nifty 50 index lost 1.5 per cent in the last two days, and in intraday deals on Tuesday, it gave up the 15,600 support level, however, recovering from the lows it closed at 15,632. Bank Nifty has fallen nearly 2 per cent so far this week and shut shop at 34,415.45 on Tuesday. Ahead of weekly options expiry, Indian stock markets remained closed on Wednesday, on account of Eid al-Adha. India VIX, the volatility gauge, spiked 4.14 per cent to 13.21 levels on Tuesday.
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The country’s crude oil import bill has increased 190.6% year-on-year to $24.7 billion in Q1FY22 with rising prices of the commodity in the international market and higher procurement volumes with demand for auto fuels returning. The volume of crude oil imported in the quarter, at 51 million tonne, was 14.7% higher than the same period last year. The average price of the Indian basket of crude oil in Q1FY22 was $68.6 per barrel, against the average rate of $30.4 per barrel recorded in Q1FY21.
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